Cityjet
Join Date: Sep 2005
Location: Inside the roster matrix
Posts: 617
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http://www.hmrc.gov.uk/international/faqs.htm
http://www.hmrc.gov.uk/manuals/nimmanual/nim27008.htm
http://www.hmrc.gov.uk/manuals/nimmanual/nim27002.htm
http://www.hmrc.gov.uk/manuals/nimmanual/nim27005.htm
http://www.hmrc.gov.uk/manuals/eimanual/EIM05277.htm
http://www.hmrc.gov.uk/manuals/senew/SE33033.htm
Very fishy to me. I had a chat with a few Tax specialists and even BALPA put me onto an Accountant (about as good as a choc tea pot) and no one could give a 100% answer.
I think that if the flight goes outside the UK and lands outside the UK, you can have a FDR (not flight pay) to cover expenses. This amount is set by the IR. CityJet have an arrangement with the Bank of Ireland and the Irish IR not to tax you on the flight pay, but you will pay some sort of interest for having it transrered into the account. If you transfer the money into a UK account, you will pay to have it wired and also a rate for conversion. It then becomes earnings from outside the UK and subject to UK tax. If you keep it there, you loose, if you wire it into your normal account, you loose.
In other words, they save on NI contributions and have to pay less pension to you.
Read the attachments really carefully and make up your own mind. If the Euro suffers, so will you.
Good luck.
http://www.hmrc.gov.uk/manuals/nimmanual/nim27008.htm
http://www.hmrc.gov.uk/manuals/nimmanual/nim27002.htm
http://www.hmrc.gov.uk/manuals/nimmanual/nim27005.htm
http://www.hmrc.gov.uk/manuals/eimanual/EIM05277.htm
http://www.hmrc.gov.uk/manuals/senew/SE33033.htm
Very fishy to me. I had a chat with a few Tax specialists and even BALPA put me onto an Accountant (about as good as a choc tea pot) and no one could give a 100% answer.
I think that if the flight goes outside the UK and lands outside the UK, you can have a FDR (not flight pay) to cover expenses. This amount is set by the IR. CityJet have an arrangement with the Bank of Ireland and the Irish IR not to tax you on the flight pay, but you will pay some sort of interest for having it transrered into the account. If you transfer the money into a UK account, you will pay to have it wired and also a rate for conversion. It then becomes earnings from outside the UK and subject to UK tax. If you keep it there, you loose, if you wire it into your normal account, you loose.
In other words, they save on NI contributions and have to pay less pension to you.
Read the attachments really carefully and make up your own mind. If the Euro suffers, so will you.
Good luck.
